Oil output disruption in the country depends very much on how the fighting around Tripoli evolves.
"Diplomatic efforts to find a political solution to the unrest have so far proved futile. In other words, armed factions will continue to fight for legitimacy, control and, crucially, a share of Libya's oil wealth," Stephen Brennock, oil analyst at PVM Oil Associates, said in a research note published Wednesday.
The prospect of renewed fighting in the country's capital city has underscored the OPEC producer's importance to oil markets and the fragility of its supply. In fact, the country's crude production actually increased by 71,000 barrels per day to 1.176 million b/d in April, according to OPEC-surveyed secondary sources.
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